Monty’s Mortgage Blog

Category Archives: Independent Mortgage Advice

Tin Hats & Bayonets

Ever since the issues first engulfed our industry 4 years ago I seem to be fed up of saying, “wow, that was an extraordinary week” and last week was no exception.

It began with some positives from the previous week; UK growth was confirmed at 0.5% in the 3rd quarter of this year and the Government launched its much anticipated Housing Strategy, pulling together a range of announcements with a couple of new ones to try to stimulate growth and return some confidence back to the house building industry.

Also posted in Coreco, European Union, First Time Buyers, House Prices, Housing Strategy, Large Mortgage Loans, Mortgage Blog, Mortgage Brokers in London, Regulation, The Economy | Tagged , , , , , , , , , | Leave a comment

Window Dressing

Another interesting week in store as Georgie boy, the Chancellor prepares to deliver his Autumn Statement tomorrow. Expect a dash of hard realism with a hint of hope that will be crushed by the media fixated on the mantra that bad news sells.

The real issue, like an annoying soap opera you don’t really like but can’t help watching, is still playing itself out in Europe. Rumours are both good, that the IMF is preparing a EU600 billion bail out of Italy to solve its issues, (denied by the IMF for now) and bad, that ratings agencies are poised to basically downgrade the whole of Europe causing further issues, (not denied)!

Also posted in Best Mortgage Rates, Coreco, European Union, First Time Buyers, Large Mortgage Loans, Mortgage Blog, Mortgage Brokers in London, The Chancellor, The Economy | Tagged , , , , , , , | Leave a comment

HSBC – Stop It, My Sides Hurt…

Apparently, and, (said in the style of Theresa May), I am not making this up, HSBC have said that “HSBC accepts around nine in 10 of all customers who apply for a mortgage with the bank”.

Ha ha ha ha ha ha ha ha ha ha ha ha ha ha, (stop it, ha, my, ha, sides hurt, ha).

Actually maybe that’s a little disingenuous, as to be fair at least they are giving the impression of supporting the average mortgage borrower and their rates have been consistently attractive. However, in making this comment whilst trying to put the proverbial boot in to mortgage brokers who they clearly see as an irritant, (who needs independent advice pah, advice is for wimps), they are opening themselves up to closer inspection.

Also posted in Best Mortgage Rates, Coreco, First Time Buyers, Interest Only Mortgages, Large Mortgage Loans, Mortgage Blog, Mortgage Brokers in London, Professional Mortgage Brokers | Tagged , , , , , , | Leave a comment

Bank Base Unchanged, More QE, But Are Rates About To Rise?

I want to be very clear about the question posed in the title, especially as the Bank of England Monetary Policy Committee, (MPC) obviously kept rates on hold again today and in all likelihood, look set to keep it that way for a good few months yet.

This rise in rates I am alluding to is due to two things; firstly, as the storm in the Eurozone does its best to turn itself into a full scale hurricane of a banking crisis, because quite simply the cost of funds looks set to rise and secondly, liquidity issues are once more emerging from the shadows.

Also posted in Bank Base Rate, Best Fixed Rates, Best Mortgage Rates, Coreco, Credit Crunch, Large Mortgage Loans, Mortgage Blog, Mortgage Brokers in London, Mortgage Rates, Remortgage, The Economy | Tagged , , , , , , , , , | Leave a comment

Half A Glass…

At a time when negative headlines dominate the economic landscape it is hard not to notice that consumer confidence has taken a battering in recent weeks. Talk of a double-dip recession is on many economists’ lips and whether this is caused by a struggling manufacturing sector, a European crisis that is nowhere near over or issues in the US, China or whatever, the myriad of reasons being thrown up by all and sundry has almost become unimportant to the consumer.

In truth the average consumer still feels like nothing has really changed, the technicalities of a recession are unimportant, it is how they feel and for most, things still feel tight.

Also posted in Bank Base Rate, Best Fixed Rates, Best Mortgage Rates, Building Societies, Coreco, Economic Recovery, First Time Buyers, Large Mortgage Loans, Mortgage Blog, Mortgage Brokers in London, Mortgage Market, Property Market, The Economy | Tagged , , , , , , , , , | Leave a comment